CLARITY Company makes one product. Its sales price is expected to be PS2 per unit. Actual 2021 sales: November 6,200 units December 6,800 units CLARITY budgets its sales for the next six months of 2021 as follows: January February March 3,400 units April 3,000 units 3,200 units May 3,800 units 3,500 units June 6,000 units All sales are on account. CLARITY collects its accounts as follows: 70% in the month of sale 20% in the month following sale 10% in the second month following sale Uncollectible accounts are negligible and can be disregarded.
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- All Temps has a policy of always paying within the discount period, and each of its suppliers provides a discount of 2% if paid within 10 days of purchase. Because of the purchase policy, 80% of its payments are made in the month of purchase and 20% are made the following month. The direct materials budget provides for purchases of $23,812 in February, $23,127 in March, $21,836 in April, and $28,173 in May.What is the balance in accounts payable for April 30, and May 31?CLARITY Company makes one product. Its sales price is expected to be PS2 per unit. Actual 2021 sales: November 6,200 units December 6,800 umits CLARITY budgets its sales for the next six months of 2021 as follows: Jamuary February 5,400 units April 5,000 units 5,200 units May 5,500 units June 5,800 units 6,000 units March All sales are on account. CLARITY collects its accounts as follows: 70% in the month of sale 20% in the month following sale 10% in the second month following sale Uncollectible accounts are negligible and can be disregarded. The beginning inventory on January 1, 2022 is 540 units. CLARITY desires an ending finished goods inventory of 10% of the next month's budgeted sales. Each unit of finished goods requires 4 kilos of raw material that cost P3 a kilo. CLARITY desires an ending inventory of raw materials equal to 20% of the following month's production needs. Assume that CLARITY met this requirement at the end of December, 2021. CLARITY makes all purchases on…Zubaida LLC has two sales territories, North and South. Each salesman is expected to sell the following number of units during the first quarter of 2019. Assume the average selling price is RO 8 Month North South (units) (units) Jan 200 300 Feb 260 350 March 320 400 . The budgeted sales quantity and value at the end of the quarter is: a. North 780 units RO 6240, South 1050 units RO 8400 b. North 2200 units RO 13,200, South 2400 units RO 14,400 c. North 2000 units RO 12000, South 1900 units RO 11,400 d. North 780 units RO 8400, South 780 units RO 6240
- Shadee Corporation expects to sell 630 sun shades in May and 420 in June. Each shades sells for $18. Shadee's beginning and ending finished goods inventories for May are 85 and 60 shades, respectively. Ending finished goods inventory for June will be 55 shades. It expects the following unit sales for the third quarter. July August September 530 480 440 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 38 percent is collected during the following month, and 10 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts August SeptemberShadee Corp. expects to sell 600 sun visors in May and 440 in June Each visor sells for $14Shadee's beginning and endin goods inventories for May are 85 and 40 units, respectively Ending finished goods inventory for June will be 55 units expects the following unit sales for the third quarter July August September 545 480 440 Sixty percent of Shadee's sales are cashOf the credit sales52 percent is collected in the month of the sale38 percent is c during the following month , and 10 percent is never collected Required : Calculate Shadee's total cash receipts for August and September (Do not round your intermediate calculations . Round you to the nearest whole dollar )Sunland, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July Budgeted sales $299200 $289800 $321000 $280300 $209700 Budgeted purchases $144500 $119700 $128000 $132700 $89400 • Customer amounts on account are collected 60% in the month of sale and 40% in the following month. • Cost of goods sold is 70% of sales. • Sunland purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month. • Operating expenses are: Salaries, $51000; Depreciation, $12000; Rent, $14400; and Utilities, $14800. • Accounts payable is used only for inventory acquisitions. How much cash will Sunland receive during May from customers? $304720 $192600 $302280 $308520
- Styles Abuhatim LLC has given the following particulars. You are required to prepare a cash budget for the three months ending 31st December 2019 Months Sales Materials Wages ( OMR) Over heads (OMR) (OMR) (OMR) August September October 20000 10200 3800 1900 21000 10000 3800 2100 23000 9800 4000 2300 November 25000 10000 4200 2400 December 30000 10800 4500 2500 Credit terms are 1.. Sales /Debtors 10% sales are on Cash, 50% of the credit sales are collected in next month and the balance in the following month 2. Creditors- materials 2 months Wages 1 month -1 month Overheads 3. Cash balance on 1st October is expected to be Ro.8000 4. A machinery will be installed in August at a cost of RO.100000, the monthly instalment of RO.5000 is payable from October onwards 5. Dividend at 10% on preference share capital RO.300,000 will be paid on 1* December 2019 6. Advance to be received for the sale of vehicles RO.20000in December 7. Income tax to be received in December RO.5000pos Ibie Furniture, Inc., estimates the following number of mattress sales for the first four months of 2019: Month Sales January February 22,000 39,800 March 28,600 April 44,200 Finished goods inventory at the end of December is 6,900 units. Target ending finished goods inventory is 10% of the next month's sales. How many mattresses should be produced in the first quarter of 2019? A. 92,340 mattresses B. 68,840 mattresses TE O C. 87,920 mattresses 1 a O D. 57,760 mattresses Mi F Ju fir https: Cha The es sales 4 Missing Calculator Next http://mi tho ?3 O O O OShadee Corp. expects to sell 510 sun visors in May and 410 in June. Each visor sells for $17. Shadee’s beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 60 units. It expects the following unit sales for the third quarter: July 515 August 490 September 420 Sixty percent of Shadee’s sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 36 percent is collected during the following month, and 12 percent is never collected. Required: Calculate Shadee’s total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) August September Total Cash receipts
- es Shadee Corporation expects to sell 560 sun shades in May and 410 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 70 and 50 shades, respectively. Ending finished goods inventory for June will be 50 shades. It expects the following unit sales for the third quarter: July August September 575 470 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 36 percent is collected during the following month, and 12 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts August SeptemberNizwa Company prepares its budget for January-April period. On 1 January, the cash available is 15000 OMR. The financial information is given in the table below. Sales Purchases Expenses December 72000 45000 7000 January 85000 53000 9000 February 90000 54000 6000 March 95000 65000 11000 April 105000 75000 13000 Additional Information: (a) Period of credit allowed by suppliers is one month (b) 30 % of sale is for cash and the period of credit allowed to customer for credit sale one month. (c) The period allowed in payment of expenses is one month. Which of the following is the total of cash balances at the end of February and March? Select one: a. 184100 b. 131300 c. 158300 d. 95600Kent Company has a sales budget for next month of $1,000,000. Cost of goods sold is expected to be 25 percent of sales. All goods are paid for in the month following purchase. The beginning inventory of merchandise is $50,000, and an ending inventory of $64,000 is desired. Beginning accounts payable is $160,000. For Kent Company, the ending accounts payable should be: Select one: O A. $341,000 B. $414,000 C. $264,000 D. $356,000